Global thermal coal short-term outlook April 2018: China import curbs change price direction
A flurry of trading activity was triggered in China after a tier-2 port import ban was implemented. The concern was over the potential for stricter rules to follow but not solely from the tier-2 ban. Market participants have experience now with handling tier-2 import bans, so the size of the risk was better understood. However, concerns of further restrictions being implemented triggered a rush to secure tonnages ahead of stricter rules. Buying activity helped to reverse the downward trend in pricing in China and in international markets.